Can BTC go down to <$5k again now?
I dont think so. I dont believe can go below $10k ever again. Most likely it will also stay above $20k. Or at least if will somehow fall below $20k it will retrace back extremely fast. Impossible to buy unless you will have buy orders set at that price.
Bitcoin market Cap is huge and massive , it had enjoyed massive institutional adoption lately all these are the driving force of the price hence these are catalyst that will not drive the price to $5K, a lot of speculations that the price might experience a similar price action of 2017 but I disagreed with that predictions based on the fact that fundamentals which drives the price differs, now Bitcoin enjoyed massive adoption unlike before.